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Article 7-2
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In cases where an application is exempt from review by the review committee pursuant to the preceding Article 7-1, and where the administering department has passed a resolution within a month following receipt of application documents but where exceptional circumstances are present, it may extend the review period, based either on the requirements of the review or at the request of the applicant company, subject to receiving prior signed authorization by the president. Any extension of a review period granted pursuant to a request by the applicant company shall be for a month only.
Where it is resolved the listing application under subparagraphs 1 and 2 of paragraph 1 of the preceding article be approved, the case shall be submitted to the board of directors for consideration; where it is resolved that listing be denied, the senior executive vice president shall convene a meeting of the relevant personnel to review the listing case again, and when necessary, invite the applicant company and the securities underwriter to provide explanations; if they resolve to deny approval for listing, the signed approval of the president may be obtained and the application then rejected outright.
Where the application in subparagraph 3 of paragraph 1 of the preceding article for relisting of stocks on the stock exchange is approved, the case shall, upon a signed approval of the chairperson of the board of directors being obtained, be reported to the competent authority for recordation and to the board of directors. Where it is resolved that the aforementioned application be denied, the senior executive vice president shall convene a meeting of the relevant personnel to review the case again, and when necessary, invite the applicant company and the securities underwriter to provide explanations. If it is still resolved that the application for relisting be denied,the signed approval of the president may be obtained and the application then rejected outright.
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